A new study issued by Ponemon Institute, sponsored by IBM, reveals that healthcare data breaches still cost more than in other sectors.
The Ponemon Institute’s calculation is that the average healthcare data breach costs $380 per record. This compares to the average global cost per record of $141. This calculates to an average global cost of a data breach to be $3.62 million. This is a benchmark that is closely watched, particularly for the determination of obtaining cyber liability insurance.
The study also looked at the total cost of a breach with the average over the past four years and found that in the U.S., the total cost of a data breach is $7.32 million, which rose over the past year. This is the highest amount since Ponemon and IBM Security started looking at the costs of a data breach.
With the number of data breaches that are occurring, it does not appear that these costs will decrease any time soon.